Retirement can be a time of uncertainty for many; breaking the habits formed in the working world and adjusting to a new, usually lower, form of income can take some getting used to and often results in the identification of new priorities. However, it can also be a fresh start for many, providing the opportunity […]
Whilst moving house or changing job it can be easy to forget about your pension – there are usually more pressing things to worry about. Settling into your new role or new home takes priority over informing your pension provider of your change in address or finding the documentation required to keep your pension plan […]
Millions of employees work tirelessly for decades in the expectation of a comfortable retirement in the future. But for many UK residents retirement is an event to be feared due to lack of savings and pension. It’s important to find the balance for comfortable retirement savings.
To help you understand how much is needed, we at Blacktower Financial Management have revealed how much to save for retirement, how much you should be saving for retirement each month, and top tips that map out the best way to save for retirement.
If you plan on living out your retirement years without worrying about finances, ensuring you have sufficient retirement savings is a must.
One of the best pieces of semi-financial advice I ever received was about buying clothes: buy good quality (obviously) and then have the garment altered to fit me specifically; sound financial and sartorial sense. Of course, this means going a little further than one might normally when buying a new outfit, but it’s a little extra that I think is more than justified in the end. Ready-to-wear clothes are great without doubt, but having something that fits you perfectly gives a continued feeling of satisfaction with every wear, it’s so worth it. There are parallels to be made in my professional life as well; it’s such a pleasure to be able to offer clients advice and products that are tailormade to their requirements and fit their circumstances perfectly.
Labour MP for Islington South and Shadow Foreign Secretary Emily Thornberry has published an article for Politics Home in which she calls for greater pensions freedoms for public sector workers.*
Written as part of her failed leadership campaign, the article named five major policy areas she felt the party needs to address in the future: climate crisis, the NHS, Social Care, affordable housing, and pensions.
In fact, the article was largely concerned with the issue of public sector pensions as Ms Thornberry warned that the country faced a "ticking time-bomb" in respect of the sums which will become payable in future decades. She quoted a 2017 estimate which suggested that public sector pension liabilities had a £1.7 trillion shortfall. She said that the public currently spends around £40 billion a year meeting this gap.
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